Authum Investment & Infrastructure Limited — Important, 02-04-2025: Agreements

Authum Investment & Infrastructure Limited has emerged as the Selected Resolution Applicant for the acquisition of Vas Infrastructure Limited (VIL) through a Resolution Plan. The company accepted a letter of intent (LOI) for a total resolution plan value of approximately ₹86.04 crore, to acquire 94.99% of VIL's total share capital after implementing the plan. VIL, which is currently under Corporate Insolvency Resolution Process, specializes in the redevelopment of old buildings in Mumbai. This acquisition could enhance Authum's position in the real estate sector, potentially offering future growth opportunities amidst risks associated with VIL's financial recovery.